The assets which have a limited useful life are termed as ...

328 views

Accountancy (Phase -I & II) Accounting standards Add to Study Deck

The assets which have a limited useful life are termed as

Limited assets

Depreciable assets

Unlimited assets

None of the above

Explanation:

The assets which have a limited useful life are termed as Depreciable assets. The assets which are held by a business for the production and supply of goods and services, expected to be used for more than an accounting year and have a limited useful life are known as Depreciable Assets.